Baltimoresun.com : Business (42)

City Council greets $10B 'Baltimore Renaissance' idea with skepticism

A Virginia-based developer went before a Baltimore’s City Council committee Thursday to pitch his $10 billion idea to remake 70 city-owned vacant sites. He was greeted with skepticism. That's because Kahan S. Dhillon Jr.’s idea, called The Baltimore Renaissance, doesn’t call for ...

Starbucks will close seven Teavana mall stores in Maryland

Starbucks Corp. will close all 379 of its Teavana mall stores, including seven in Maryland, the coffee retail giant said Thursday. Starbucks plans to close the specialty chain that sells teas, tea kettles and other tea-related products over the next year, with most locations closing by spring. ...

Five minutes with ... Keith Gillan, president of Murn Properties

The way Keith Gillan sees it, the surge in apartments going up around the Baltimore area makes perfect sense. The trend is the market's response to an influx of young people who aren’t ready to commit to buying a home but want all the amenities that modern apartment complexes can provide, ...

State moves to start shutting down Evergreen Health after buyer backs out

The Maryland Insurance Administration plans to ask a judge to appoint a receiver to take over Evergreen Health and gradually close down the health insurer unless another investor or buyer emerges. Maryland Insurance Commissioner Al Redmer Jr. confirmed the plan Thursday, a day after a group of...

Local artist shaped look of new sign atop M&T Bank Stadium

As new signs are installed atop the Baltimore Ravens’ M&T Bank Stadium, Tal Leming hopes nobody scrutinizes the shape of the “a” in bank or the curve of the “m” in stadium . Leming said it’s his job as a typeface designer to pay obsessive attention to that kind of ...

Local artist shaped look of new sign atop M&T Bank Stadium

As new signs are installed atop the Baltimore Ravens’ M&T Bank Stadium, Tal Leming hopes nobody but him scrutinizes the shape of the “a” in bank or the curve of the “m” in stadium. As a typeface designer, Leming says it’s his job to pay obsessive attention to that kind ...

Investors back out of Evergreen Health deal

A group of investors that had applied to acquire Evergreen Health said Wednesday that they were backing out of the deal, leaving the Baltimore-based health insurer’s future in doubt. The investors said in a joint statement that “new financial information came to light that raised ...

Legg Mason earnings up for quarter

Legg Mason reported a profit of $50.9 million for its first quarter, compared with $33.5 million in the same April- to-June period last year. Earnings per share rose to 52 cents from 31 cents a year ago, beating analysts expectations. The consensus analysts' expectation was 43 cents a share, ...

New developer interested in buying proposed Royal Farms site in Towson

The developer behind Silo Point, a $180 million waterfront condominium development in Baltimore City, is interested in buying a county-owned property at York Road and Bosley Avenue in Towson, according to a letter to Baltimore County Councilman David Marks. Turner Development Group's ...

Curry, Irving trips illustrate importance of Asia market for Under Armour, Nike

NBA star Stephen Curry was in Beijing on July 22 and 23. Rival star Kyrie Irving was in the China capital the next day, according to their schedules. The timing was coincidental but their trips shared a common goal — to promote basketball and their respective sports brands in Asia. Curry, ...

Amazon to hire 1,200 in Maryland, 50,000 across the country at fulfillment centers

Amazon plans to hire 50,000 people across the country, including 1,200 in Maryland, to work in its fulfillment facilities, the company said Wednesday. The Seattle-based giant online shopping site will host a “jobs day” on Aug. 2 in Baltimore and nine other cities, offering tours and ...

Trump says Apple has plans to build 3 U.S. factories; Apple doesn't comment

President Trump said Apple Inc. has committed to build three “big” manufacturing plants in the U.S., a move that would represent a major change in strategy for the world’s most valuable company and boost the White House’s long-held promise to return overseas factory jobs to ...

Brands turn to loyal customers to serve as their ambassadors

When Lauren Seserko wanted to get back into shape after college about five years ago, she went to the running store near her home in Baltimore for good shoes, a training team and advice on items to help her go faster and farther. Now a seasoned marathoner, she’s worked to encourage and guide ...

Direct Energy to lay off 108 Maryland employees

Direct Energy, a Houston-based natural gas and electricity retailer, will lay off 108 of its employees in Columbia, according to a notice it provided to the state on Tuesday. The layoffs come as the company “is changing its business model to move away from being a residential solar ...

Fair Hill recommended to host large international equestrian event

The U.S. Equestrian Federation’s board of directors have chosen Maryland’s Fair Hill over a competing site in Virginia to permanently host an annual international event of jumping, cross country and dressage. The board made the decision Monday night to recommend Fair Hill over the other ...

Anthem House holds grand opening

Anthem House, the 292-unit luxury apartment building in Locust Point, will hold its grand opening Tuesday. Tenants began moving into the $100 million project by the Bozzuto Group, Scott Plank's War Horse Cities and Solstice Partners in June. Located at 900 E. Fort Ave., Anthem House boasts a ...

ELTA North America opens Cyber Innovation Center

ELTA North America, an Israeli-owned defense manufacturer, is opening a Cyber Innovation Center at its Annapolis Junction headquarters. Modeled after innovation centers at ELTA’s facilities in Israel and other countries, the innovation center will focus on adapting technology and ...

Main Street businesses rise from the rubble one year after devastating Ellicott City flood

On July 30, 2016, disastrous flood waters ripped through about 50 Main Street businesses and killed two people in Ellicott City. As the water curved down Main Street in the historic shopping district, Sweet Elizabeth Jane clothing boutique was at the bend inside Caplan's department store. ...

T. Rowe Price Group reports second-quarter profit

T. Rowe Price Group Inc. reported a profit of $373.9 million in the second quarter, up 84 percent from the April-to-June period last year. Earnings at the Baltimore-based investment management company rose to $1.50 per share, up 71 cents compared to the same quarter in 2016. Adjusted to ...

Columbia cybersecurity firm receives $8 million in venture capital

Bricata Inc., a Columbia-based cybersecurity firm, has received $8 million in venture capital funding from Edison Partners, the firm announced Tuesday. Bricata, which develops software designed to hunt for network intrusions, will use the Series A funding to invest in marketing, research and ...

GM may discontinue six sedans from Cadillac, Buick, Chevy

General Motors has put six of its cars under review and is evaluating whether to cancel them in the coming years, according to a report from Reuters. The news comes as sales of cars continue to plummet in the U.S. and as consumers increasingly turn to SUVs and pickups. The company is considering...

University of Maryland School of Medicine startup acquired

Living Pharma Inc., a cancer treatment startup out of the University of Maryland School of Medicine, has been acquired by Lentigen Technology, a life sciences company in Gaithersburg. Financial terms were not disclosed. Living Pharma is developing a cancer treatment that uses a patient’s own ...

GM may discontinue six sedans from Cadillac, Buick, Chevy

General Motors has put six of its cars under review and is evaluating whether to cancel them in the coming years, according to a report from Reuters.The news comes as sales of cars continue to plummet in the U.S. and as consumers increasingly turn to SUVs and pickups.The company is considering...

Ray Lewis drops price of Reisterstown estate to $2.5 million

Former Ravens linebacker Ray Lewis has decreased the original asking price of his 28-acre gated Reisterstown estate by 15 percent, dropping the listed price from $2.95 million to $2.5 million. The roughly 6,600-square-foot Tufton Avenue abode, which was originally listed in late April, has ...

Towson-based chemical distributor acquires competitors in Massachusetts, Texas

Dunleary Inc., a Towson-based regional specialty chemical distributor, plans to acquire two other regional chemical distributors, Westborough, Mass.-based D. N. Lukens and Dallas-based D & F Distributing, the company announced Monday. Collectively, the three companies sell coatings, adhesives,...

CVS opens first Maryland hearing center

CVS Pharmacy opened its first Maryland hearing center in an Ellicott City store, as part of the drug store chain’s move to capture more health related business in its retail outlets. The store, which sells and services hearing aids, is staffed by audiologists and can provide hearing ...

WebMD to be sold to private equity firm in $2.8B deal

KKR is buying health information website WebMD in a deal valued at about $2.8 billion. WebMD Health Corp. announced in February that it was looking at its strategic options, including a possible sale. KKR's Internet Brands, an online media and software services provider and subsidiary of KKR, ...

German carmakers colluded on diesel controls, technology for decades: report

Another week, another scare from the German car industry. What began with Daimler's massive recall of more than 3 million diesel cars to lower their emissions, ended on Friday with Audi also embarking on a voluntary recall of 850,000 vehicles. Adding to the spate of bad news was a report in Der...

Average U.S. gas prices rise a penny, reversing 11-week trend

The average price of a gallon of regular-grade gasoline rose about a penny nationally over the past two weeks, to $2.32. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the slight increase comes after 11 weeks of decline. The current price is about 10 cents above ...

KKR's Internet Brands buying WebMD in $2.8B deal

KKR is buying health information website WebMD in a deal valued at about $2.8 billion. WebMD Health Corp. announced in February that it was looking at its strategic options, including a possible sale. KKR's Internet Brands, an online media and software services provider and subsidiary of KKR, ...

Five Minutes with ... Tony Brusco, CEO of South Mountain Creamery

Grocery delivery services are becoming increasingly popular — this is, after all, the on-demand age. But Tony Brusco said the growth of his Middletown-based farm-to-home company is also tapping into something else. “There’s a certain sense of feeling good about the food you’re ...

2018 VW Atlas V6 SE Tech: An encouraging sign of American design

The 2018 Atlas SUV is Volkswagen’s biggest vehicle and its biggest challenge in the U.S. — but it could become the brand’s biggest ambassador. Most VW models sold here were staunch adherents to the European market for drivability first and North American comfort and conveniences ...

Virginia developer gets hearing with City Council for his $10 billion 'Baltimore Renaissance' idea

A little-known Northern Virginia developer has what he calls a $10 billion idea for revitalizing Baltimore by making a nonprofit he would establish the master planner for dozens of construction projects to be executed and paid for by other developers. A self-described boutique developer, real ...

Maryland adds 13,300 jobs in June

Maryland added 13,300 jobs in June and the unemployment rate dipped slightly, as people joining the workforce quickly found jobs, according to the latest federal employment report. Maryland had an unemployment rate of 4.1 percent in June, down a tenth of a percentage point from May and below the...

Lyft offering discounted rides, pick-up/drop-off zones at Artscape

Lyft will provide pick-up and drop-off zones, charging stations, refreshments and discounted rides for new riders at Artscape this weekend, the ride-share company announced. First-time Lyft riders can get $5 off two rides to get to and from Artscape by using the code ARTSCAPEX17 in the Promos ...

Area industrial portfolio sold for $201 million

Cushman & Wakefield said Thursday it had facilitated the $201 million sale of a an industrial portfolio concentrated in the Baltimore. The Baltimore-based real estate firm represented the seller, TA Realty, and will now serve as property manager for the portfolio’s 20 properties on behalf ...

Waterfront Partnership moves forward with redesigned Rash Field

Waterfront Partnership of Baltimore is moving forward with an updated plan for Rash Field that includes an overhaul of the park’s pavilion. At a presentation Thursday before the city’s Urban Design and Architecture Review Panel, Waterfront Partnership and architect Mahan Rykiel Associates ...

Budweiser maker expands nonalcoholic lineup by acquiring Hiball energy, sparkling drinks

Anheuser-Busch is acquiring Hiball Inc., a maker of energy drinks and carbonated juice beverages, as the brewer continues to expand its portfolio beyond beer. A-B InBev, which has its U.S. headquarters in St. Louis, said the Hiball Energy and Alta Palla sparkling juice brands will benefit from...

Elon Musk wants to bring high underground Hyperloop through Baltimore

Elon Musk, the billionaire tech entrepreneur, announced Thursday on Twitter that he has received "verbal” government approval to build a high-speed underground transportation system from New York to Washington, with stops in Philadelphia and Baltimore. The 46-year-old behind the automaker ...

Howard Bank's earnings grow by a third

The parent of Howard Bank reported Thursday that it earned $2 million in the April-to-June quarter, up 33 percent from $1.5 million a year earlier. Earnings per share, however, slid a penny to 21 cents over the same periods largely because Howard Bancorp issued more stock earlier this year, ...

DuClaw Brewing seeks investor or buyer

DuClaw Brewing Co., the Rosedale-based craft-beer company known for its Sweet Baby Jesus brew, is seeking an investor or buyer. The company has hired Equity Partners, an Easton investment firm, to assist in the search, according to a news release. Founded by Harford County native Dave Benfield,...

Amazon's newest partner: Sears

Strugging Sears is looking for help from the company that's responsible for much of the retail industry's woes: Amazon. The embattled retailer announced Thursday it will begin selling its full line of Kenmore appliances on Amazon, significantly expanding distribution of a brand that, until now,...